About Grant Street Funding
Grant Street Funding is a commercial real estate lender, investment manager and servicer. The executive team is led by industry leaders, with collective 100+ years’ experience, recognized for their complimentary skill set encompassing loan origination, capital markets, asset, business, and fund management.
Our Beginning
Grant Street Funding’s business was originally established within Oaktree Capital Management’s real estate debt strategies in 2016 and was spun out as an independent company in 2019. We partner with institutional shareholders providing for a stable balance sheet capital base.
Our Strategy
Grant Street Funding’s core business strategy is to develop long term relationships with brokers and sponsors providing them with surety of execution and an exceptional experience from loan review to loan closing to lifetime in-house servicing.
Our Product
Grant Street Funding’s differentiated loan product offers pre-payment flexibility, early rate lock and other features that are unavailable elsewhere. Matched with our in-house lifetime servicing and competitive pricing and terms, Grant Street Funding is positioned to deliver exceptional results.
Our Team
Grant Street Funding is led by industry leaders, with collective 100+ years’ experience, recognized for their complimentary skill set encompassing loan origination, capital markets, asset, business, and fund management.
SENIOR LEADERSHIP
John Boyt
Co-founder & Managing Principal
Head of Originations, Credit, Asset Management
John has 25 years experience in performing and distressed commercial real estate debt, equity, securities, origination, and credit. Prior to his founding of Grant Street Funding LLC in 2019, John served as a Senior Advisor to Oaktree Capital Management, in which he was responsible for sourcing investment opportunities on behalf of Oaktree’s series of Real Estate Debt Funds. Prior to this, John was the head of the western region for commercial real estate finance with Barclays, in which he was responsible for the investment bank’s loan origination business within the western US. Additionally, John has participated in multiple equity and debt offerings including serving as an officer of Resource Capital Corporation (NYSE “RSO”) during its IPO in 2007. John, during his career, has held senior positions with Bear Stearns, Credit Suisse, and Bankers Trust. John received a B.A degree from Boston College.
Justin has 20 years of experience in real estate finance, trading, and capital markets. Prior to Grant Street Funding LLC, Justin directed non-agency lending for Hunt Real Estate Capital, was head of trading for specialty real estate finance firm and investment manager Allegiant Real Estate Capital, which spun off from FirstKey lending, a Cerberus portfolio company. Prior to FirstKey, Justin was head of trading/capital markets at Blackstone’s single-family rental platform, B2R Finance, and head trader for Cantor Fitzgerald’s Cantor Commercial Real Estate where he helped launch and build the firm from its genesis, after the financial crisis, to the largest volume, most profitable US CMBS originator at the time. Justin started his career at Bear Stearns and post merger, JPMorgan, focusing on CMBS trading and capital markets and was involved in conduit, large loan, fixed and floating rate, and large public to private commercial mortgage origination, structuring, whole loan and subordinate debt trading and securitization. Before entering the finance profession, Justin worked as an engineer at Texas Instruments and Raytheon. He graduated from Texas A&M with a BS in Nuclear Engineering, from Southern Methodist University with an MBA, taught Real Estate Capital Markets at CUNY Baruch’s Zicklin School of Business in New York City and is currently an Associate Instructor for 2U’s Commercial Real Estate Investment online short course at the MIT Commercial Real Estate Institute.
Jon has a 30-year track record as a seasoned commercial real estate, capital markets, and finance executive. He’s held senior positions on Wall Street while at Credit Suisse, Cantor Fitzgerald and Barclays where he was a business leader, lender, trader and investor. Jon has been involved in over $350 Billion of CRE transactions throughout his real estate career. Prior to Grant Street Funding LLC, Jon was a founding partner of Altitude Investment Management, a venture capital firm focused on esoteric industries. Prior to Altitude, Jon was a Senior Managing Director at Hunt Mortgage Group where he led the firm’s expansion into non-agency commercial lending. He also co-developed the proprietary leverage structure used by Grant Street Funding and initially capitalized the HFX 2017-1 fixed rate program with Oaktree Capital Management and one of the largest insurance companies. While at Barclays and Credit Suisse he was a Managing Director and senior member of the real estate finance group and participated in all major business decisions. Prior to Credit Suisse, Jon was a Vice President at APC Realty Advisors, a boutique real estate-focused investment bank. Jon specialized in equity, mezzanine, interim and permanent debt placement for private and public real estate companies. Prior to APC, Jon started his career at the accounting firm of Ernst & Young where he was a Manager. Jon provided real estate consulting services for fortune 500 clients and major public and private real estate investors and owners. Jon earned a Bachelor of Arts from Rutgers University and he attended New York University’s Masters of Science Real Estate Program. Jon held FINRA Series 7 and 63 licenses.
ADDITIONAL STAFF
Underwriting
Grant Street Funding has ample internal and additional resources to meet expanding loan demand. Grant Street Funding has priority access to more than 10 analysts and associates.
Due Diligence
Grant Street Funding has ample internal and additional resources to meet expanding due diligence needs. Grant Street Funding has priority access to more than 10 analysts and associates.
Closing
Grant Street Funding has ample internal and additional resources to meet expanding loan closings. Grant Street Funding has priority access to more than 10 analysts and associates.
Asset Management
Grant Street Funding has ample internal and additional resources to meet expanding asset management. Grant Street Funding’s hands-on asset management and servicing capabilities provides quick response times and accurate reporting.
ORIGINATION TEAM
John Boyt
Co-founder & Managing Principal
Head of Originations, Credit, Asset Management
John has 25 years experience in performing and distressed commercial real estate debt, equity, securities, origination, and credit. Prior to his founding of Grant Street Funding LLC in 2019, John served as a Senior Advisor to Oaktree Capital Management, in which he was responsible for sourcing investment opportunities on behalf of Oaktree’s series of Real Estate Debt Funds. Prior to this, John was the head of the western region for commercial real estate finance with Barclays, in which he was responsible for the investment bank’s loan origination business within the western US. Additionally, John has participated in multiple equity and debt offerings including serving as an officer of Resource Capital Corporation (NYSE “RSO”) during its IPO in 2007. John, during his career, has held senior positions with Bear Stearns, Credit Suisse, and Bankers Trust. John received a B.A degree from Boston College.
Mr. Greene serves as a senior originator with Grant Street Funding (“GSF) based in Los Angeles. His primary responsibilities include the sourcing of loans and assisting with the underwriting of real estate properties across the western region. Prior to joining Grant Street, Greene spent eight years at Barclays Investment Bank, where he co-headed West Coast debt origination efforts in the firm’s Los Angeles office. Greene has originated, structured, and executed billions of dollars of debt financings on behalf of numerous institutional clients and private investors. The scope of his work has included fixed rate CMBS, floating rate bridge, and mezzanine loans across all commercial property types nationwide. During his career of over 25 years, he has also served in commercial real estate loan origination and underwriting capacities at Bear Stearns and Nomura. Previously, Mr. Greene served in acquisitions at Starwood Hotels and Resorts. Mr. Greene began his career in asset management with Colony Capital and brokerage with Jones Lang LaSalle. He has a B.S. from Cornell University, an M.B.A. from the UCLA Anderson School of Management, and has been licensed as both a General Securities and Investment Banking Representative (Series 7, 63 and 79). Greene is an original member of the Board of Amigos de los Rios, a non-profit organization that designs and builds parks in East Los Angeles.
Mr. Sturdevant has more than 15 years of experience in the commercial real estate business. At Grant Street, Mr. Sturdevant is a Managing Director based in the firm’s Dallas office where he is responsible for loan originations across Texas and the southeastern United States. Prior to joining Grant Street in 2019, Mr. Sturdevant worked in Morgan Stanley’s fixed income division where he was responsible for CMBS loan originations. He has held similar positions at Deutsche Bank and Prudential, and throughout the course of his career he has been directly involved in the sourcing, structuring, negotiation and closing of over $3 billion of commercial real estate transactions. In addition to his finance experience, Mr. Sturdevant also spent time on the equity side of the business at Westmount Realty Capital where he was involved in the acquisition, ownership, management, and operation of commercial real estate. Mr. Sturdevant graduated from TCU where he majored in finance and accounting.
Mr. Jardine has over 15 years of commercial real estate finance and management experience. Prior to joining Grant Street Funding, Mr. Jardine was a Director and senior loan originator managing Deutsche Bank’s Dallas office. In that role, Mr. Jardine closed over $10 billion of CRE loans where he coordinated optimal capital structure and creative financing solutions on recently developed, transitional, value-add and stabilized assets. Earlier in his career, Mr. Jardine was a Special Servicing Asset Manager charged with minimizing losses to bondholders on defaulted mortgage loans.
Mr. Gaffan has over 25 years of experience in commercial real estate debt and equity origination and structuring. Prior to joining GSF, Brett had long-standing senior loan origination roles at Barclays, Societe Generale, and Greystone. The primary focus of his work experience has included originating fixed and floating rate cmbs, balance sheet, and mezzanine loans working for a wide variety of public and private clients across all major property types. Brett also previously worked as an underwriter and originator at Morgan Stanley Mortgage Capital and has held other positions in the industry doing brokerage and loan sale work. Brett is currently licensed as a registered security industry representative (Series 79 and 63) and has a BS from the Cornell University School of Hotel Administration.
SENIOR OPERATING TEAM
Tricia Provost joined Grant Street Funding in 2019 as a Director in the Los Angeles office where she oversees the diligence, underwriting and closing of commercial and multi-family loans. Before joining Grant Street Funding, Ms. Provost was Director at Hunt Real Estate Capital in Los Angeles where she assisted in the underwriting and closing of bridge and fixed rate loans. Prior to that, she held various positions at Acore Capital, Citizens Financial Group and NorthMarq Capital. Throughout her career, Ms. Provost has underwritten more than $10 billion in commercial loans for both stabilized and bridge executions.
John has 19 years of experience in real estate finance, trading, and capital markets. John started his career in real estate finance at Bear Stearns as a Structured Credit Analyst in the Financial Analytics and Structured Transactions (FAST) group, where he provided analytics and reporting to support the Asset-Backed Securities (ABS) and Mortgage-Backed Securities (MBS) trading desks. John also served as the Vice President of Structuring for the Bear Stearns Commercial Mortgage-Backed Securities (CMBS) trading desk, where he structured over $20 billion worth of CMBS, provided analytics for the CMBS trading desk, and developed multiple tools for structuring and analyzing CMBS. In 2005, John joined Sorin Capital Management as a fixed income portfolio manager and co-manager of the Collateralized Debt Obligation (CDO) business. John’s team successfully navigated the Great Financial Crisis of 2007-2008, which helped Sorin secure the Institutional Investor Fixed Income Hedge Fund of the Year award.
Before entering the finance profession, John worked as a Technology Risk Consultant at Arthur Andersen. He graduated from Purdue with a BS in Organizational Leadership and Computer Technology.
Dean joined Grant Street Funding in 2022 within the Dallas office as the Director of Asset Management. Prior to joining Grant Street Funding, Mr. Goodboe was a Vice President at Hall Structured Finance where he was responsible for closing new loans and managing the firm’s $1.0 billion loan portfolio. Prior to that, he held production positions where he originated approximately $3.0 billion in commercial real estate loans in roles at Goldman Sachs and Bank of the Ozarks. Mr. Goodboe holds a Bachelor of Arts degree and an MBA from Southern Methodist University.
Amy joined Grant Street Funding in 2021 and has over eight years of experience in commercial real estate. Prior to joining the team, she was a lead analyst at Moody’s Investors Service working with the CMBS/CLO new issuance and surveillance teams in New York City. She started her career as a financial analyst, spent three years in mutual fund administration at BNY Mellon, and transitioned to the CRE sector when she joined the asset management division at Arbor Realty Trust. She holds a BBA in Real Estate Investments.
Our Process
Based on decades of experience, GSF has defined an efficient process to review, quote, underwrite, fund, and asset manage loans for borrower.
Deal flow / Pipeline Review
GSF sources lending opportunities from our strong relationships with leading brokers and strategic partners within our targeted markets. Loan opportunities are reviewed real time to deliver best-in-class responsiveness.
Initial Screening / Soft Quote
The GSF originator, in coordination with our internal underwriting team and product and market specialist, will conduct the initial review of the loan and provide an indicative quote.
GSF Approved Term Sheet
Issued term sheets have been fully reviewed and approved by the GSF investment committee.
Rate Lock & Due Diligence
Rate lock available upon execution of the term sheet. Due diligence, which usually takes 30-45 days, is led by our in-house underwriting team.
Investment Committee & Closing
Upon satisfactory completion of due diligence, GSF’s investment committee reviews and approves the loan.
Funding
Upon all approvals GSF funds the loan.
Asset Management
GSF provide in-house asset management services for the life-of-loan.
Our Loan Programs
Grant Street Funding offers a multitude of loan products to meet our borrower’s needs.
Loan Amounts
$7 million to $35 million
Asset Types
Office, Multifamily, Industrial, Self-Storage, Manufacture Housing, Retail, Hotel
LTV
Up to 75%
DSCR
1.20x for Multifamily; 1.25x for all other property types
Reserves
Creative leasing and capex structures
Prepayment
Min 3 Year Call Protection
Recourse
Non-recourse except for industry standard “bad boy” carve-outs.
Fees
Par
Loan Amounts
$10 million to $65 million
Asset Types
Office, Multifamily, Industrial, Self-Storage, Manufacture Housing, Retail, Hotel
LTV
Up to 75%
DSCR
1.20x for Multifamily; 1.25x for all other property types
Reserves
Creative leasing and capex structures
Prepayment
Fully Call Protected
Recourse
Non-recourse except for industry standard “bad boy” carve-outs.
Fees
Par
Loan Amounts
$7 million to $50 million
Asset Types
Office, Multifamily, Industrial, Self-Storage, Manufacture Housing, Retail, Hotel
LTV
Up to 75%
DSCR
1.20x
Reserves
Creative leasing and capex structures
Prepayment
Flexible
Recourse
Non-recourse except for industry standard “bad boy” carve-outs.
Fees
Par
Featured Transactions
Grant Street Funding is an active lender on all property types. Below are a listing of recent and notable transactions.
Offices at Kimball Park
Grant Street Funding provided a five-year fixed rate loan for the refinance of Offices at Kimball Park. The property is approximately 113,000 sf.
Location
Southlake, TX
Type
Office
Amount
$26,500,000
Alameda Industrial Portfolio
Grant Street Funding provided a five-year fixed rate loan for the refinance of Alameda Industrial Portfolio. The property recently underwent a major renovation.
Location
Alameda, CA
Type
Industrial
Amount
$28,000,000
Brook Hollow Center
Grant Street Funding provided a five-year fixed rate loan for the refinance of Brook Hollow Center. The property is 100% leased.
Location
Norcross, GA
Type
Industrial
Amount
$20,700,000
Beverly & Robertson
Grant Street Funding provided a five-year fixed rate loan for the acquisition of Beverly & Robertson. The property is 100% leased.
Location
West Hollywood, CA
Type
Retail
Amount
$12,600,000
Block Y
Grant Street Funding provided a five-year fixed rate loan for the refinance of Block Y, a mixed-use property comprised of retail and parking. The property was recently renovated.
Location
Chicago, IL
Type
Mixed Use
Amount
$10,400,000
Strauss on 5th
Grant Street Funding provided a five-year fixed rate loan for the refinance of Strauss on 5th. The property was recently constructed.
Location
San Diego, CA
Type
Multi-Family
Amount
$49,250,000